April 14, 2020
PUBLIC FINANCE > Budget > FY 2021

‘Sobering’ estimates mean budgeting with billions less

Matt Murphy, State House News Service ,

Daily Hampshire Gazette

Massachusetts Taxpayers Foundation President Eileen McAnneny said unemployment in the second quarter of 2020 could push toward 18 percent, with 570,000 jobs lost and a $4.4 billion, or 14.1%, decline in projected revenue for the next fiscal year. McAnneny said Massachusetts could recover 410,000 jobs within a year, but employment won't reach pre-virus levels until 2022.